/biz/ - Business & Finance

You DONT buy bitcoin hoping it goes up in dollar price like a stock. Amazon is a business making revenue. Bitcoin is just fucking bitcoin... it isn't supposed to provide you returns.

Bitcoin is money and savings to protect your wealth and exponentially increase it when fiat fails. That's the entire fucking point of buying bitcoin.

The dollar value of bitcoin is irrelevant. Bitcoin didn't all of a sudden become valuable when America was born and the dollar was created so why the fuck would you be valuing bitcoin in terms of fiat?

Also it was fucking bitcoin that gave value to the dollar.

KING BITCOIN

bitcoin is confusing because most technology with measurable specs and lots of competitors and iterations becomes obsolete after a while unless it has some kind of protection. bitcoin does have this in terms of cost and feasibility to attack its security mechanism. but on the surface, it could look to someone like VHS while newer "competitors" look like dvd or blu ray. people fixate on the specs and the branding because it is easy to quantify and identify with in some way.

on the other hand money is at the absolute opposite end of the spectrum. it changes very slowly, in the developed world and the areas that make up the bulk of economic activity it changes once a lifetime for most people if that. the dollar has undergone major changes over the decades but it has still been the dollar. the point is unless you study monetary economics you don't really ever question money because it's just a functional thing that exists to facilitate the things you do in life. people are resistant to spending time thinking about it because they believe they can't change it or it will never change (and they have been right for the most part until crypto). this is the big upset that will happen, because it is going to change. people mistake crypto as a technological thing but it's more important to understand the monetary economics side of things and how it fits into global money right now (as a portable ownership asset that's globally transferable, plausibly deniable, and transportable as a 12 word phrase). it's as significant as the discovery of fire, the wheel, or ammonia. that's the core technological function along with having the highest cost to attack as well as privacy capabilities (monero on the radar heavily as something to buy right now). everything beyond that, to truly understand the value, requires you to question monetary economics rather than technological matters.